Regular Savings Accounts: The Best Currently Available List!

AmityNeon

Emily_Joy said:

AmityNeon said:

Emily_Joy said:

It was not me who has made the payment. Gatehouse bank asked for a nominated bank account details as a part of ISA opening process. I gave my easy access Barclays ISA account. The funds were automatically sent there by Gatehouse without me doing anything. I just woke up one morning to an email from Barclays telling me that the funds have been transferred to my current account and this was the first time I heard about the issue

You should have simply nominated your Barclays current account instead; the profit/interest paid out from an ISA to a nominated current account is still tax-free.

Surely, in this case the profit/interest would have left the ISA wrapper, which I wanted to avoid...

To be clear, choosing for interest to be paid away to any external account results in said interest leaving the ISA wrapper immediately; the problem was not that Barclays moved the funds to your current account. You cannot just nominate your Barclays ISA to receive the interest earned from your Gatehouse ISA and expect that interest to remain wrapped (i.e. excluded from contribution limits).

AmityNeon

charlie12525 said:

Regarding the Hanley Economic Building Society Online Regular Saver, the T&Cs state -

8.2 On our accounts we generally:
Calculate interest on a sum withdrawn up to (but not including) the day before you make the withdrawal

So a couple of days lost interest on withdrawal. Think I will leave it.

That clause is incorrectly worded. In practice, Hanley Economic follows industry practice and accrues interest daily on closing balances, right up to (but not including) the day of withdrawal (when the account balance is reduced).

Their "savings terms and conditions have recently been updated and are reviewed by a specialist legal firm to ensure they are fair and in line with industry regulations", but this specialist legal firm failed to notice how the word 'before' effects an interest loss of one day (which doesn't happen in practice).

cricidmuslibale

I've just found out that the Yorkshire BS Loyalty Regular eSaver 2023, currently paying 7.00% (variable) annual interest on up to £500 per month to members who have a continuous relationship with Yorkshire Building Society of 12 months or more, is now no longer available. It must have been withdrawn some time yesterday (Friday) evening because it was still showing on Moneyfactscompare.co.uk when I checked at c. 8.50pm yesterday.

Hopefully the Coventry BS Loyalty Regular Saver, also paying 7.00% (variable) annual interest but on up to £250 per month, will remain available until say Christmas Eve at least. That account has only been around for about two and a half weeks so far and, after all, it is restricted to those who have had a continuous relationship with Coventry Building Society (or ITL Mortgages Ltd or Godiva Mortgages Ltd) since 1 January 2022 or before this date.

Just as a reminder: Unlike the Yorkshire BS Loyalty Regular eSaver, which works on a calendar month basis, the Coventry BS Loyalty Regular Saver uses account months e.g. the 2nd month starts on the monthiversary of the day you open the account etc. I.e. if you open this account and make the maximum deposit of £250 today (16th December) you then have to wait until 16th January to make your next £250 deposit. You can make as many deposits as you wish to within your personal account month as long as you do not exceed £250 in total. Any payment that causes this limit to be exceeded will be returned in full to you.

PowerSavingMode

cricidmuslibale said:

I've just found out that the Yorkshire BS Loyalty Regular eSaver 2023, currently paying 7.00% (variable) annual interest on up to £500 per month to members who have a continuous relationship with Yorkshire Building Society of 12 months or more, is now no longer available. It must have been withdrawn some time earlier this evening because it was still showing on Moneyfactscompare.co.uk when I last checked about 3 hours ago.

Hopefully the Coventry BS Loyalty Regular Saver, also paying 7.00% (variable) annual interest but on up to £250 per month, will remain available until say Christmas Eve at least. That account has only been around for about two and a half weeks so far and, after all, it is restricted to those who have had a continuous relationship with Coventry Building Society (or ITL Mortgages Ltd or Godiva Mortgages Ltd) since 1 January 2022 or before this date.

Just as a reminder: Unlike the Yorkshire BS Loyalty Regular eSaver, which works on a calendar month basis, the Coventry BS Loyalty Regular Saver operates using account months (or monthiversaries if you prefer): i.e. if you open this account and make the maximum deposit of £250 today (16th December), you then have to wait until 16th January to make your next £250 deposit. You can make as many deposits as you wish to within your personal account month as long as you do not exceed £250 in total. Any payment that causes this limit to be exceeded will be returned in full to you.

Darnit, I had just under a month to go until I became eligible for the YBS loyalty saver. Thanks for letting us know.

Stargunner

alibean121 said:

allegro120 said:

alibean121 said:

First direct have somehow still managed to surprise/disappoint me from what was a low base. Their RS maturity process is genuinely unacceptable.

My account matured yesterday and since Monday it disappeared from the account view, I decided today to message them. They have relevant options in the robot chat and say you can hit to speak to a human to get instant access to the money. I decide to do that, why not. Person says please message again tomorrow. Great, thanks.

This is a shocking suggestion but, if the account takes 5 days to close, why not start the process 5 days earlier and have it done on maturity date? I can’t imagine what they could possibly be doing with this time. 

That's a normal process for FD RS, account disappears from the view for a day or two.  Every time they send a letter or e-mail to remind about this few weeks prior to maturity.

The best way to contact them is phone call.

Thanks I do know they take a while with it. I've never dealt with First Direct before but have used HSBC my whole life as my main bank. I'm shocked by how much worse the technology and service is at FD as I'd always heard very good things. I am genuinely curious what they're up to with this time - I'm into building societies and some of the ones I've dealt with have been one man and a calculator type jobs, but they manage to pay out funds next working day. Anyways, never mind. I suppose I'm a rare RS veteran that has never dealt with FD before, I don't think I'll be repeating it anytime soon unless they up their rate again as they're not now even beating my ISA given tax position.

My FD regular saver matured yesterday. I called them this morning and they transferred the funds to my current account whilst I was on the phone and I have now withdrawn them.
No complaints with that service.

Special_Saver2

Hi Everybody,

I have updated the first page of this thread.

- Melton BS Regular Saver (Issue 4) withdrawn and removed from page 1

- Yorkshire BS Loyalty Regular eSaver 2023 and Yorkshire BS Loyalty Regular Saver 2023 withdrawn and removed from page 1

- Hanley Economic BS Online Regular Saver added to page 1 paying 5.5% gross p.a. variable on up to £1,000 per month with no maturity date, minimum monthly payment of £250, you can miss two payments per tax year and you can make 5 withdrawals per tax year (6 April to 5 April) without penalty, £1,000 must remain in the account following a withdrawal, maximum balance £100,000, must be opened online. 

I will do the next update in the next 2 weeks.

SS2

---

For those new to this thread, the first few posts are regularly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

qsk

I have a Christmas RS Bond from Principality BS which is maturing on Christmas day. The maturity option has a 6.25% Maturity Winter RS Bond which probably worth a look for anyone who have the same RS bond.

subjecttocontract

Stargunner said:

alibean121 said:

allegro120 said:

alibean121 said:

First direct have somehow still managed to surprise/disappoint me from what was a low base. Their RS maturity process is genuinely unacceptable.

My account matured yesterday and since Monday it disappeared from the account view, I decided today to message them. They have relevant options in the robot chat and say you can hit to speak to a human to get instant access to the money. I decide to do that, why not. Person says please message again tomorrow. Great, thanks.

This is a shocking suggestion but, if the account takes 5 days to close, why not start the process 5 days earlier and have it done on maturity date? I can’t imagine what they could possibly be doing with this time. 

That's a normal process for FD RS, account disappears from the view for a day or two.  Every time they send a letter or e-mail to remind about this few weeks prior to maturity.

The best way to contact them is phone call.

Thanks I do know they take a while with it. I've never dealt with First Direct before but have used HSBC my whole life as my main bank. I'm shocked by how much worse the technology and service is at FD as I'd always heard very good things. I am genuinely curious what they're up to with this time - I'm into building societies and some of the ones I've dealt with have been one man and a calculator type jobs, but they manage to pay out funds next working day. Anyways, never mind. I suppose I'm a rare RS veteran that has never dealt with FD before, I don't think I'll be repeating it anytime soon unless they up their rate again as they're not now even beating my ISA given tax position.

My FD regular saver matured yesterday. I called them this morning and they transferred the funds to my current account whilst I was on the phone and I have now withdrawn them.
No complaints with that service.

Well I've got plenty to complain about......I'm not aware that the reg saver maturity process provided by FD states that savers are required to phone them. So, why would any of us phone them. This is yet another example of poor customer service for those that follow the normal procedure.

Why FD can't 'automatically' transfer the matured reg saver funds into the FD current account is a complete mystery.

OneUser1

My Cambridge Regular Saver matures soon and I usually renew using on-line. At the moment I am unable to use their website. I get as far as being sent a One Time Code but then it half logs me on, half crashes and displays an error message. I did ring the number but all I got was a friendly CSA who admitted she knew nothing about the website and was unable to help.

So I am curious whether anyone else had the same problem (and cured it?) or even just has the same problem.

Since I get as far as having the One Time Code sent, I don’t think it’s me.

Kazza242

OneUser1 said:

My Cambridge Regular Saver matures soon and I usually renew using on-line. At the moment I am unable to use their website. I get as far as being sent a One Time Code but then it half logs me on, half crashes and displays an error message. I did ring the number but all I got was a friendly CSA who admitted she knew nothing about the website and was unable to help.

So I am curious whether anyone else had the same problem (and cured it?) or even just has the same problem.

Since I get as far as having the One Time Code sent, I don’t think it’s me.

I just logged onto the Cambridge BS online banking portal successfully a moment ago.  

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